Case Studies
Does GE Think We’re Stupid?
Saturday, November 10th, 2007Since my wife is recovering from giving birth this last Wednesday, I went to the grocery store to pick up a few things. One item on the list was “night lights.”
As I scanned the inventory, I zeroed in on some GE brand night lights. I had two sizes to choose from. I could buy two [...]
Popularity: 2% [?]
My Monthly Nut Just Got a Lot Smaller
Tuesday, November 6th, 2007If you’ve been a regular reader, you might be wondering, “Why hasn’t that fool sold his motorcycle yet?”
Good question.
I have an answer.
The main reason is I’ve been preoccupied by what, up until now, I had seen as a bigger financial problem. Namely, that of paying my brother Jared.
Since July, I’ve been paying Jared $2,500 a [...]
Popularity: 4% [?]
Outstanding Debt as of November 2007
Monday, November 5th, 2007I finally sat down and caught up on all my paperwork, including two quarters’ worth of accounting. I also took the opportunity to update my debt spreadsheet since I hadn’t had time to do it last month.
Here is a snapshot of my latest numbers (they are currently sorted in order of how they should be [...]
Popularity: 2% [?]
How I Paid Off My Mortgage in 38 Days
Thursday, November 1st, 2007You’re probably expecting that I’ll reveal a “magic bullet” for paying off your mortgage fast. And I will. But it’s probably not the magic bullet you’re looking for.
The simplest way to get rid of your mortgage is to… sell your house. Use somebody else’s money or credit to pay off your mortgage.
This is what I [...]
Popularity: 7% [?]
I’ve Cut My Monthly Expenses by…
Tuesday, October 30th, 2007This month I examined some of my recurring expenses. I decided to eliminate three of them–two in my business and one personal.
By eliminating these, I have freed up $133.90 in cash flow.
I can probably do better, but this is where I’m starting.
Note: I also went through this exercise in July with my brother. We were [...]
Popularity: 1% [?]
Why I Made an Egregious Mistake
Friday, October 19th, 2007After reading Part 6 of my story, Anonymous Reader writes: “I can’t believe after all you went through, you didn’t learn your lesson. [...] What are you going to do about this egregious lapse of reason?”
It’s an excellent question, even if it is a bit hard for me to swallow. But before I begin telling [...]
Popularity: 1% [?]
The Story, Part 6
Thursday, October 18th, 2007In Part 5, it looked like I was headed for a debt-free life. I had paid off over $20K worth of unsecured debt in 11 months. But a few things conspired to put me further in the hole.
For one, I got greedy.
You see, I love motorcycles. I commuted on one for an entire summer before [...]
Popularity: 2% [?]
The Story, Part 5
Wednesday, October 17th, 2007My focus on reducing our debt paid off during late 2006.
Every time I got paid for a new copywriting project, I’d practically zero out my bank account to pay off outstanding debts. This reduced our debt fast. Here’s a snapshot of what our debt load was like when we started…
After just 11 months of intense [...]
Popularity: 2% [?]
The Story, Part 4
Sunday, October 14th, 2007We lived with my parents for five months. Then we bought a home. We qualified on my income alone (my wife stays home with our kids)… but barely. The first year was rough. We ate eggs and oatmeal a lot.
Still, I was seeking “the” opportunity that would make me rich. So I began blogging [...]
Popularity: 2% [?]
The Story, Part 3
Saturday, September 29th, 2007When I was trying to buy vending machines to start a vending business, the U.S. was in the midst of a real estate boom built on the shoulders of the Fed’s low interest rates. Second mortgages were becoming as fashionable as SUVs.
My condo had appreciated about $20,000 in a year. I had also put down [...]
Popularity: 2% [?]
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